I like it. It's in a good area (closest housing to Dandenong cbd) and the main street has been completely redeveloped. Houses there are 300k I'm not sure if you could reno and flip them for 350k+ in the short term, developing would possibly work. Growthwise I don't see thew average house jumping from 300k to 350k in growth anytime soon. Despite it being a good area it's awfully far out and there are equally priced options in much more established suburbs.
What about Noble Park? It has 3 level crossing removals projected over the next 8 years, surely this will boost house prices although I'm too afraid to take the risk and buy there myself relying on that for growth. The area has a high Sudanese population and is getting worse from what I hear, houses aren't much more than Hampton Park and are far more established. Location wise it's next to Springvale, Mulgrave and Keysborough. Despite the area looking risky I see more potential in the area.
May be a naive angle but potentially I see 350-400k homes in Noble Park reaching 500k in a few years but couldn't see Hampton Park being worth 400k.
Noble Park is in a prime location close to all our blue chip infastructure, it's old with a lot of high incomes the population/demographic issues are holding it back and once these kind of things disappear (ie footscray, ashwood) the area booms like crazy.